Today in Not Being Bullish Enough

I have a regular conversation with a hedge fund friend wherein I try to convince him (and me) that, bears that we usually are, we aren’t nearly bullish enough. While Evans-Pritchard is often off the mark, these are more or less my arguments for the bullish side.

World power swings back to America.

The American phoenix is slowly rising again. Within five years or so, the US will be well on its way to self-sufficiency in fuel and energy. Manufacturing will have closed the labour gap with China in a clutch of key industries. The current account might even be in surplus.